OREGON BUSINESS AUTO INSURANCE
Business auto insurance will provide insurance protection for your vehicles used by your Oregon business whether you are registered through the state as a sole proprietorship, partnership, corporation, or association. This type of coverage will cover private passenger cars, trucks, trailers, semitrailers, and commercial vehicles except for garages and truckers.
Your commercial general liability policy will exclude coverage for motor vehicles.
The insurance coverages in a commercial auto policy are similar to that of a personal auto policy. There are 8 specific functions in your commercial auto policy.
- Bodily Injury Liability
- Property Damage Liability
- Medical Payments
- Collision
- Comprehensive
- Uninsured/Under -Insured Motorist
- Hired Auto
- Nonowned Auto
This coverage applies to injuries you, the designated driver or policyholder cause to someone else. Your commercial auto insurance is going to allow you to select coverage for any auto, owned autos only, owned private passenger autos only, owned autos other than private passenger autos, specifically described atuos, hired autos, and nonowned autos.
This coverage pays for damage you (or someone driving the car with your permission) may cause to someone else's property. Usually, this means damage to someone else’s car, but it also includes damage to lamp posts, telephone poles, fences, buildings or other structures your commercial auto hits.
3. MEDICAL PAYMENTS OR PERSONAL INJURY PROTECTION
Personal Injury Protection can cover medical payments, lost wages and the cost of replacing services normally performed by someone injured in an auto accident. It may also cover funeral costs.
This coverage pays for damage to your car resulting from a collision with another car, object or as a result of flipping over. If you are at fault for any accident, your collision coverage will reimburse you for the costs of repairing your commercial car, minus the deductible. If you’re not at fault, your insurance company may try to recover the amount they paid you from the other driver’s insurance company. If they are successful, you’ll be reimbursed for the deductible.
5. COMPREHENSIVE “OTHER THAN COLLISION”
This coverage applies to any direct and accidental loss not caused by collision. It will reimburse you for loss due to: fire, theft or larceny, windstorm, hail, water or flood, malicious mischief or vandalism, contact with a bird or animal, & glass breakage.
This coverage will reimburse you if you are hit by an uninsured or hit-and-run driver. This coverage comes into play when an at-fault driver has insufficient insurance to pay for your loss.
Hired auto coverage provides coverage for liability arising out of autos rented from others.
Nonowned auto provides coverage for autos that the policy holder does not own, lease, hire, rent, or borrow that may be used in conjuction with their business. This would provide coverage for autos owned by employees of the business or members of their households but only while used for business purposes.
Please take note that if a vehicle is owned by your business you will want to make certain that the name of the business appears on the title of the vehicle and on the name of the policy as the named insured. If your name is listed rather than your business name it can cause a conflict in the event that you need to file an insurance claim or a claim is filed against you.
